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T
he Australian hotel industry is responding to continued
record international visitor growth with a record level of hotel
investment – over AUD$8 billion – that is set to transform
Australia’s accommodation and tourism sectors.
Figures released in mid-March by Tourism Accommodation
Australia (TAA) identify 228 hotel projects (34,702 rooms) under
construction, approved for development or in advanced planning stages
in the six State capitals and Darwin.
TAA’s hotel ‘pipeline’ report follows the release of the latest
International Visitor Survey (IVS) results which revealed 11% growth in
visitor arrivals for the 2016 year, taking the total number to 7,624,665.
Korea and Japan led the increases with 24% annual growth, followed
by China (17%) and USA (16%). Total international visitor spend grew
7% to reach $39.1 billion, injecting an additional $2.5 billion into the
Australian economy in 2016.
Recent hotels announced for development include:
• Marriott International’s Luxury Collection Hobart: a 128 room
hotel at Parliament Square, which is part of a $150 million urban
regeneration project funded by the Melbourne-based Trawalla Group
and Sydney-based private developer, Citta Property Group. It is due
for completion in 2018; and
• I HG’s Holiday Inn Sydney Central: the 305 room hotel will be
developed by China’s Linzhu group in the Central Park precinct at the
southern end of the CBD. The hotel is scheduled to open in 2020.
These announcements follow a strong flow of openings in
2016, capped off by the opening of Australia’s most expensive hotel
development, Crown Towers Perth, in December. The luxurious hotel
was built at a cost of $650 million and features 500 premium guest rooms
and villas along with Perth’s most comprehensive range of high-quality
entertainment, leisure and dining facilities.
Australia’s new development pipeline has hit a record 228 projects, according to a new report from TAA.
Massive
Rooms completed
2016-17
Rooms under
Construction
Rooms Approved Rooms Planned
Pipeline Projects
- Hotels
Total Pipeline (Rooms
under Construction,
Approved, Planning)
Sydney
2407
2495
3126
3184
46
8805
Melbourne
388
2227
5150
3878
85
11255
Darwin
273
91
200
1137
11
1428
Perth
891
1934
1008
4225
50
7167
Hobart
0
300
311
796
8
1407
Adelaide
0
245
856
880
10
1981
Brisbane
85
1051
974
634
18
2659
Total
4044
8343
11625
14734
228
34702
Table: Reported hotel development projects in Australia 2017 – 2022 (Source: Tourism Accommodation Australia)
AUSTRALIA’S HOTEL DEVELOPMENT ‘PIPELINE’ (2017 – 2022)
Massive
investment
in new hotel
development
continues
24 HM The Business of Accommodation